Down Payment Assistance for FHA Loans
Many down payment assistance (DPA) programs are offered on a state-by-state basis. However, the National Homebuyers Fund and Chenoa Fund DPA programs can be used with FHA loans nearly nationwide.
These programs offers up to 5% in assistance. FHA only requires 3.5% down, so this program allows eligible homebuyers to experience 100% financing, plus up to 1.5% to put toward closing costs.
program details
- Up to 5% in assistance in the form of a second mortgage
- Forgivable option available — contact your loan originator for details
- Exclusively for FHA loans
- No income restrictions
- No first-time homebuyer requirement
- As low as 600 FICO
- Relaxed debt-to-income (DTI) restriction
- Homebuyer education may be required
Geographic restrictions apply; contact your mortgage loan professional for additional information.
